Best Homeowners Insurance Agencies in Santa Ana

Frequently Asked Questions

• Introduction

  Homeowners' insurance is a type of property insurance used by private property owners to protect their home and property from a range of risks and liabilities. It is also called home insurance.
  

  
  

  All homeowners' insurance policies cover the primary home on a property, meaning that most damage from weather, accidents, vandalism, and other events will be at least partially paid for by the insurance company. Many policies also include coverage for other structures, personal property, and some premises liability.

  
  

  It is not required by law that a homeowner purchases insurance for their property. However, if you have a mortgage, the lender will usually make purchasing a homeowners' policy a mandatory part of the loan process. Since the mortgage lender is essentially selling you the home, they require you to protect the investment.
  

• Can your homeowners' insurance totally replace the cost of your home in Santa Ana?

  It depends. If your homeowner's insurance in Santa Ana is a replacement cost-value policy, it will cover the costs. If you have an actual cost-value policy, it will not. Generally, this type of policy costs less than a replacement cost-value policy because the payout amount is lower. The factor that determines the payment amount is the policy value or the structure's fair market value, whichever is less when there is total structure loss. In cases of partial structure loss, the amount depends on the policy limit or the cost to repair or replace the home minus the physical depreciation.

• If you are having problems obtaining homeowners' insurance in Santa Ana, what are your options?

  Get the California Fair Access to Insurance Requirements Plan. It is crafted for homeowners with difficulties in obtaining property insurance from private insurers because their homes are considered high-risk. Homeowners in Santa Ana can contact staff from California FAIR plan at (800) 339-4099 and (213) 487-0111 for more details. The office is located at 3435 Wilshire Boulevard, Los Angeles, CA 90010.

• Can home renovations in Santa Ana lower your homeowner's insurance premiums?

  Renovations that can lower your homeowner's insurance premiums are those that make your homes safer from risks such as fire, burglary, and storm damage. Some of these are setting up security systems, installing storm-safe shutters, and upgrading to safer electrical or heating systems. Renovations that raise your premiums increase your home's value in Santa Ana. These can include adding a home extension, building a basement, or installing a fireplace.

• When do you need to update your homeowners' insurance policy in Santa Ana?

  You should regularly review your homeowners' insurance policy and update it if you experience major life events such as divorce, having a new baby, retiring, or an adult child moving away. If you increase your home's square footage, make some significant renovations, and bring home a new dog, you should update your policy as well. Additionally, you are advised to update your insurance policy in Santa Ana if you are starting a home business or adding or selling valuable assets such as collectibles, antiques, and art.

• How can municipal ordinance coverage in a homeowners' insurance policy benefit Santa Ana residents?

  As the name implies, this coverage protects homeowners from the rising costs of complying with municipal ordinances after filing a claim, such as those for fire losses. It can be purchased as an add-on option to a homeowners insurance policy. For more information on Santa Ana's property codes, contact the Code Enforcement Division at (714) 667-2780. Its office is at 20 Civic Center Plaza (M-19) Ross Annex Santa Ana, CA 92701. Call ahead to schedule an appointment.

• What determines the price of homeowners insurance premium?

  The premium, or monthly cost, of your homeowners' insurance policy depends on several factors, including the value of your home and amount of coverage you choose. Your credit history and whether the property is in a higher risk area also play a role.